Cash Deposits out of Pension and Property Sale, Additions Deleted by ITAT

Bhanumati Michael Scribe Vs ITO (ITAT Ahmedabad) Income Tax Appellate Tribunal (ITAT), Ahmedabad, has ruled in favor of Bhanumati Michael Scribe, an NRI, quashing an addition of ₹8,31,500 made by the Income Tax Department under Section 69A of the Income Tax Act, 1961. The addition was related to cash deposits made in her bank account during the demonetization period. The case stemmed from the assessment year 2017-18, during which the assessee deposited ₹10,00,000 in cash. Following an online verification under “Operation Clean Money,” the Income Tax Department flagged the depos...